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Wendy Schmidt's X Prize Oil Cleanup Challenge Names Winners

Wendy Schmidt's X Prize Oil Cleanup Challenge Names Winners

By Forbes on October 11, 2011

The Wendy Schmidt (yes, that Schmidt) Oil Cleanup Challenge named Elastec/American Marine, an Illinois firm, the winner of the $1 million grand prize for developing a more efficient skimmer technology to sop up petroleum spills. The second-place $300,000 award went to a Norwegian company called NOFI that has built a boom that collects oil and then separates it from the water.